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DENVER-Bryant Street Quad & Annex Ltd. has paid $9 million, or $42.75 per sf, for the 210,536-sf multi-tenant industrial project near 2nd Avenue and Bryant Street. The seller was Bedford Property Investors Inc., a real estate investment trust.

The five buildings in the project were built between 1963 and 1973. The overall occupancy was 97% at the time of sale.

”Bryant Street Quad & Annex have been outstanding performers in the Bedford portfolio,” says Murray Platt, who handled the sale with fellow Grubb & Ellis brokers Doug Viseur, Tom Wanberg and Chad Brue. ”These properties have consistently maintained occupancy levels at or near 100% over the six years that Bedford owned the properties.”

The properties will only improve under the new ownership, Viseur comments.

”The buyer plans to make some immediate capital improvements to the property to increase the property’s overall appearance,” Viseur says.

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